Will There Be a RECESSION in 2023? Chance of Recession in Next 12 Months!

Goldman Sachs says there is a chance of recession in the next 12 months in either 2023 or 2024. They previously stated a 35% chance of recession, but they have revised their estimate down to 25%.

This bodes well for the economy and the US housing market since the forecast for housing is continuing to improve. Home prices have continued to increase in 2023 and will likely set new record highs in 2024. High mortgage rates have not damped demand, which is still strong with very low inventory.

The outlook for a recession this year is unlikely as the job market is strong and consumer spending including real estate purchases remain high.

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